The Long Read: Advising Clients on New Corporate Minimum Tax
By Shannon Christensen and Joseph Boris The 15% corporate alternative minimum tax in the recently signed Inflation Reduction Act of …
Key Guidance to Watch for in IRS’ 2022-2023 Plan Year
The IRS has received many recommendations ahead of the release of its regulatory to-do list through summer 2023. The agency …
Security Summit Produces Sample Written Information Security Plan for Tax Professionals
The Security Summit—a partnership between the IRS, state tax agencies and the tax industry—has released a 29-page document titled “Creating …
Lawmakers Seek Review of Political Group’s Church Status
A group of congressional Democrats has called for a review of a conservative advocacy group’s tax-exempt status as a church, …
Big Four Firms, AICPA Report Lobbying on Federal Contractor Conflicts Bill
A bill to implement new conflict-of-interest safeguards for federal contracting drew the attention of lobbyists at the AICPA and three …
Tax Court Orders IRS to Produce Unredacted Record in Whistleblower Suit
The U.S. Tax Court ordered the IRS to file unredacted copies of a taxpayer’s returns in a whistleblower case. The …
Scholars Differ on Possible Impact of High Court’s EPA Ruling
Following the Supreme Court’s ruling that U.S. government agencies can’t impose sweeping policy-driven regulations without explicit congressional approval, law professors …
Procedures for Change to Taxable-Substance List Issued
The IRS has issued procedures for additions to and removals from the list of substances subject to Superfund chemical taxes. …
IRS Collected Over $245 Million in 2021 Via Whistleblower Tips
The IRS collected more than $245 million as a result of whistleblowers’ tips, for which it made 179 awards totaling …
Return of Superfund Excise Taxes Will Burden US Companies, Experts Say
Two reinstated excise taxes on the chemical industry are likely to create significant compliance challenges, to the detriment of U.S. …